Legal Question in Real Estate Law in Georgia

realestate

We owned 26 acres and house in rural GA, which was paid for. We decided to get a mortgage on it to pay off some bills. It was appraised for $425,000 in 2007 we borrowed $148,000. Now in 2009, we wanted to refinance, Citimortgage the mortgage holder, appraised the whole 26 acres when it was appraised for $425,000, now that we want to refinance, they only appraised 5acres and the house. I am not sure, but I smell a rat, please advise me.


Asked on 4/15/09, 6:27 pm

1 Answer from Attorneys
Scott Riddle Law Office of Scott B. Riddle, LLC

Re: realestate

If you do not like the terms or conditions of the proposed loan, go to another lender.

Read more
Answered on 4/15/09, 6:33 pm


Related Questions & Answers

More Real Estate and Real Property questions and answers in Georgia